TORONTO, May 11 /CNW/ - BRC DiamondCore Ltd. (the "Company") (TSX: BCD)
(JSE: BCD) announces that, further to its May 4, 2011 press release, it
has closed a non-brokered private placement of 7,500,000 units of the
Company at a price of Cdn$0.08 per unit for proceeds to the Company of
Cdn$600,000. Each such unit is comprised of one common share of the
Company and one warrant of the Company, with each such warrant
entitling the holder to purchase one common share of the Company at a
price of Cdn$0.11 for a period of three years. The Company intends to
use the proceeds from this financing for general corporate purposes.
BRC DiamondCore Ltd. is an African-focused diamond explorer with
projects in the Democratic Republic of the Congo. Led by a management
team with extensive experience in diamond exploration and mine
development, the Company works in a systematic and responsible manner
to discover, assess and develop diamond resources for the benefit of
its shareholders and local stakeholders.
SOURCE BRC DiamondCore Ltd.
For further information:
please visit our website, www.brc-diamondcore.com, or contact:
In Toronto: Arnold T. Kondrat, Director, (416) 366-2221 or 1-800-714-7938.
In Johannesburg: Brian P. Scallan, Vice President, Finance, +27 82 902 6273 or +243 991772978.